Below is a spreadsheet of purchase orders for a computer hardware retailer
To find the largest quantity of items ordered from Rex Technologies, what Excel
formula should be used in A12?
A) =COUNTIF(D4:D10)
B) =SUM(D4:D7)
C) =MAX(D4:D7)
D) =COUNT(D4:D7)
According to statistical notations, what does Σ stand for?
A) to act as a summation operator
B) to represent sample statistics
C) to represent population measures
D) to represent the number of items in a population
Below is the spreadsheet for a project selection model.
Answer the following question(s) using a model with uncertainty on project selection.
Assume that the distribution on each project return is LogNormal. Use 10,000 trials and
1 for random seed for the simulation.
Which of the following cells is defined as the output cell?
A) B16
B) G16
C) G17
D) G18
Which of the following is a definition of distance between two clusters in a complete
linkage clustering?
A) the average of distances between all pairs of objects, where each pair is made up of
one object from each group
B) the distance between the most distant pair of objects, one from each group
C) the sum of squares of the distance between clusters
D) the distance between the value of the shortest link between the clusters
Which of the following is true of prediction intervals?
A) It provides estimates for variables that can have only two possible outcomes.
B) It is associated with the distribution of a random variable.
C) It provides an interval estimate of a population parameter.
D) It is associated with the sampling distribution of a statistic.
Below are four options for an investment decision.
Based on the average utility, which of the following is considered the best decision?
A) Bank CD
B) Bond fund
C) Index fund
D) Growth fund
The product mix is determined by the:
A) accounting staff.
B) middle managers.
C) finance managers.
D) top managers.
If the Euclidean distance were to be represented in a right triangle, which of the
following would be considered the distance between two objects of a cluster?
A) the hypotenuse
B) the small leg
C) the long leg
D) the average of the sum of both the legs
The sort buttons in Excel can be found under:
A) the Data tab in the Sort & Filter group.
B) the Home tab in the Styles group.
C) the Insert tab in the Sort group.
D) the Sort tab in the Filter group.
Which of the following is true from the equation:∑, where is the mean of the sample?
A) The sum of the deviations above the mean are the same as the sum of the deviations
below the mean
B) Half the data lie above the mean of the values
C) The specific set of values does not have any outliers affecting the mean
D) Half the data lie below the mean of the values
Cerebro Manufacturing produces four types of structural support fittings-plugs, rails,
rivets, and clips-which are machined on two CNC machining centers. The machining
centers have a capacity of 250,000 minutes per year. The gross margin per unit and
machining requirements are shown in the spreadsheet below.
What is the maximum possible production of rails based on the machine capacity?
A) 250,000.00
B) 83,333.33
C) 166,666.67
D) 125,000.00
Which of the following is an example of a subset?
A) The number of individuals who have a Ford car
B) The number of IT employees out of all employees working in an office of Google
C) The number of members in the Democratic Party
D) The population of Canada
The worldwide sales of cars from 1981-1990 are shown in the table below. Given: α =
0.2 and β = 0.15 (Hint: Use XLMiner)
Using the double exponential smoothing, calculate the value of the mean absolute
deviation for the given data.
A) 8.10
B) 1.80
C) 91.27
D) 11976.17
The central limit theorem states that if the population is normally distributed, then the
________.
A) mean of the population can be calculated without using samples
B) standard error of the mean will not vary from the population mean
C) sampling distribution of the mean will vary from sample to sample
D) sampling distribution of the mean will also be normal for any sample size
Divisive clustering method is different from agglomerative clustering methods in that
divisive clustering methods ________.
A) can only have a pair of subjects in each cluster
B) separate objects into a particular cluster in one step
C) separate n objects successively into finer groupings
D) can only have a single subject in each cluster
The Atlas Movies Theater has repriced their ticket rates to maximize revenues. They
have three classes of tickets: Classic, Silver, and Gold. The table below provides
information on the average ticket sales, revenue and price elasticity on demand. They
have a total seating capacity of 300. The table also provides the new price for the three
classes obtained using Solver.
Assume the distributions of elasticities for three classes of tickets are uniform with
minimum and maximum values equal to 75% and 125% of their estimated values,
respectively. Under this assumption, use Monte Carlo simulation to see what happens to
the prediction of tickets sold. The model is simulated for 10,000 trials.
What is the value of standard deviation obtained from the simulation results?
A) 5
B) 4
C) 8
D) 10
Which of the following is necessary to calculate the variable cost of production for the
company to develop a profit model?
A) unit sale price
B) quantity of item produced
C) quantity of item sold
D) fixed cost of production
Fiberia Accessories, a clothing retailer, is planning to introduce a new line of sweaters
as part of the winter collection for $65 with an inventory of 1500. The main selling
season is 60 days between November and December. The store then sells the remaining
units in a clearance sale at 65 percent discount. Out of the 60 main retail days, Fiberia
sells the sweaters at full retail price for only 45 days, while giving a discount of 25
percent for the remaining 15 days. The demand functions a, and b are given as 79.5 and
1.1 respectively.
Calculate the total revenue during the discount sales period.
A) $4,478.91
B) $18,921.09
C) $10,042.73
D) $43,321.09
Below is a payoff table that lists four mortgage options:
What is the average payoff for the 3-year ARM?
A) $ 52,792
B) $ 45,212
C) $ 51,094
D) $ 55,278
If the given time series has a trend and seasonality, the most appropriate forecasting
model to determine the forecast of the time series is the ________ model.
A) multiple regression
B) Holt-Winters no trend smoothing
C) double exponential smoothing
D) Holt-Winters multiplicative
Which of the following probabilities gives the confidence coefficient?
A) P(rejecting H0 | H0 is true)
B) P(not rejecting H0 | H0 is false)
C) P(rejecting H0 | H0 is false)
D) P(not rejecting H0 | H0 is true)
The Riviera Transport Company (RTC) produces car accessories at two plants: Dallas
and Atlanta. They ship them to major distribution centers in Houston, San Jose,
Jacksonville, and Memphis. The accounting, production, and marketing departments
have provided the information in the table below, which shows the unit cost of shipping
between any plant and distribution center, plant capacities over the next planning
period, and distribution center demands. RTC’s supply chain manager faces the problem
of determining how much to ship between each plant and distribution center to
minimize the total transportation cost, not exceed available capacity, and meet customer
demand.
Assume Xij = amount shipped from plant i to distribution center j, where i = 1
represents Dallas, i = 2 represents Atlanta, j = 1 represents Houston, and so on.
Which of the following gives the constraint for the demand met at a distribution center?
A) X11 + X21 = 1,250
B) X13 + X23 ≥ 210
C) X13 + X23 = 770
D) X13 + X23 = 480
Pickson Luthiers Corporation makes four models of electric guitars, ScarCT, Dela Mort,
Warax, and Invazen. Each guitar must flow through five departments, assembly,
painting, sound testing, inspection, and packaging. The table below shows the relevant
data. Production rates are shown in units/hour. (ScarCT is assembled elsewhere).
Pickson wants to determine how many guitars to make to maximize monthly profit.
According to the linear optimization model, what is the total profit contribution by the
Invazen model?
A) $205,200
B) $20,000
C) $10,000
D) $4,000
A ________ is one that provides a range for anticipating the value of a new observation
from the same population.
A) prediction interval
B) confidence interval
C) t-distribution
D) standard normal distribution
Which of the following equations correctly expresses the relationship between the two
variables?
A) Value = (-181.16) + 13.493 Number of years
B) Number of years = Value / 12.537
C) Value = (459.34 / Number of years) 4.536
D) Number of years = (17.538 Value) / (-157.49)